China’s securities regulator has approved the initial public offerings (IPOs) of four companies on the science and technology innovation board.
Suzhou Mingzhi Technology Co., Ltd., Shanghai Electric Wind Power Group Co., Ltd., Shenzhen Xinyichang Technology Co., Ltd., and Shenzhen Xunjiexing Technology Corp., Ltd. will be listed on the Shanghai Stock Exchange’s sci-tech innovation board, commonly known as the STAR market, according to the China Securities Regulatory Commission.
Shenzhen Layout Planning and Design Consultation Co., Ltd., Huanlejia Food Group Co., Ltd., Shandong Yuma Sun-shading Technology Co., Ltd., and Sichuan Newsnet Media (Group) will be listed on the Shenzhen Stock Exchange’s board of growth enterprises, the ChiNext board, according to the China Securities Regulatory Commission.
The companies and their underwriters will confirm the IPO dates and publish prospectuses following discussions with the stock exchange.
The STAR market, inaugurated in June 2019 and designed to support companies in the high-tech and strategic emerging sectors, has eased listing criteria but adopted higher requirements for information disclosure.
China last year attracted 520.6 billion U.S. dollars of foreign investment, up by 81 percent from 2019, the State Administration of Foreign Exchange (SAFE) said in a report.
Amid China’s steady economic recovery and improved business climate, foreign direct investment into the Chinese mainland grew by 14 percent in 2020, the report said.
In 2020, China’s securities market saw net inflows of overseas funds totaling 254.7 billion dollars, a surge of 73 percent year on year, SAFE data showed.
Net inflows into Chinese bonds jumped by 86 percent from a year ago to 190.5 billion dollars, while that into equities reached 64.1 billion dollars, up by 43 percent year on year.
The report attributed the significant growth in Chinese securities’ overseas holdings to the country’s promising economic development prospects, prudent monetary policy, and high-level opening up of the financial market
